Today in Payments Around the World: Accelerating Egyptian AI and Cybersecurity Startups, Paysafe Acquires German Platform

Today in payments around the world, Paysafe has acquired viafintech in Germany. Plus, Arab Bank launches AB Accelerators in Egypt and HSBC introduces mobile payments and collection services in Qatar.

HSBC Qatar Debuts Mobile Payments, Collection Services

HSBC Qatar is rolling out mobile payments for its personal and corporate customers as it works to digitize its payments, a move, the company said in a release, that simplifies financial inclusion for unbanked citizens and Qatar visitors.

With the mobile collection services, a new and more secure way to pay becomes available, along with a better way to pay bills, transfer money and purchase goods from merchants when they can. The release says customers will be able to make instant local bill transfers or transfer money through QR codes.

Arab Bank To Back Egyptian FinTech, AI And Cybersecurity Startups

Arab Bank has launched an Egypt branch of its FinTech, artificial intelligence (AI) and cybersecurity accelerator focused on early-stage startups, the bank said in a press release posted by investment companies in the region.

Hala Zahran, head of AB Accelerator, said in the release: “AB Accelerator is unique in a way that applies a venture client as well as a venture capital model. AB Accelerator provides early-stage startups with a banking and commercial collaboration that not only helps them gain credibility and validate their product, but also allows them to instantaneously tap into multiple geographies.” AB Accelerator launched in Jordan in 2018.

Paysafe Acquires Germany’s viafintech, Boosts Its Alternative Banking, Payment Solutions

Specialized payments platform Paysafe will be acquiring viafintech, which offers the biggest bank-independent payments structure in the DACH region (Austria, Germany and Swizerland), according to a press release. Germany-based viafintech operates under the brands Barzahlen/viacash and viacash.

Paysafe will gain the ability to grow more in Germany as well as create more revenue-generating opportunities, being able to cross-sell viafintech’s products for alternative banking solutions to merchants globally, according to the release.